Effective October 30, 2020, The CFPB published the revised debt collection rule which will provide consumers with clear protections against harassment by debt collectors and straightforward options to address or dispute debts.
SCOTTSDALE, Ariz. (PRWEB) November 23, 2020
Contact Defender LLC announced today the launch of the National Preference Center, an advanced digital platform enabling consumers to take control of when, where and how often they can be contacted by collection agencies in pursuit of receivables and past due balances. The online platform is a one-of-a-kind solution bridging the communication divide between consumers and debt collectors.
Consumers continually report being harassed by aggressive debt collectors. According to the US Consumer Financial Protection Bureau “More than 1 in 4 consumers report feeling threatened by a debt collector, and a majority of those contacted about debt say the calls persist even after requests to stop.” Receivables Management firms, on the other hand, report difficulty in capturing up to date consumer contact information, which results in unsuccessful call attempts, despite operating within the Fair Debt Act guidelines.
Today’s launch of the National Preference Center solves for these challenges by enabling consumers to take control of the days, times, and numbers they want to be called. Agencies, licensed with Contact Defender, leverage up-to-date contact information to establish dialing behavior based on these consumer preferences. Putting the consumer in control reduces personal stress and frustration while dramatically increasing the contact rate for debt collectors.
“It is estimated that almost 40% of Americans have some form of debt in collections. That was pre COVID 19. With over 20M people unemployed in the wake of the pandemic, there is no doubt going to be more people in debt along with increased pressure to collect on outstanding balances,” said Gary Finney, co-founder and CEO of Contact Defender. “Now is the perfect time to deliver an easy-to-use online solution supplying consumers peace of mind and a convenient way to take back control of their debt repayment arrangements.”
Contact Defender anticipates COVID19 will lead to further legislation and restrictions for collectors. “Effective October 30, 2020, The CFPB published the revised debt collection rule which will provide consumers with clear protections against harassment by debt collectors and straightforward options to address or dispute debts. One specific restriction limits the number of calls a debt collector may place to a consumer about a debt within a seven-day period,” states Michele Shuster, President Shuster and Associates and co-founder of Contact Defender. “This will put extreme pressure on debt collectors across all industries to create their own contact database solutions to assure detailed calling compliance. With the National Preference Center, consumers take ownership of providing their best contact information. Empowering consumers will let debt agencies focus on complying to personal preferences and increasing overall results.”
To learn more about National Preference Center by Contact Defender, visit http://www.contactdefender.com
About Contact Defender LLC
Based in Scottsdale, Arizona, Contact Defender is committed to consumer advocacy and championing digital solutions that radically improve when and how consumers interact with sales and collection agencies. We created the National Preference Center, an online platform, which enables consumers nationwide to take back control of their phone and hold collection agencies accountable to new calling restrictions.